The OP stated that the elapsed time was roughly 5 minutes, so the statistics are inconsistent.

The OS_CPU_WAIT_TIME statistic seems to indicate that processes spent almost 11 minutes in this 5 minute time period waiting to be scheduled to run - that seems to be inconsistent with the 7.6% average CPU utilization, unless the OS nice utility were used, or the processes were caged to a small number of CPUs, or a reporting bug was encountered.

The OP might want to verify that the actual elapsed time between the statistics is 5 minutes. After verifying that, the OP might want to check out the following Metalink (MOS) articles:Bug 7430365: INCORRECT VALUES FOR USER_TIME IN V$OSSTAT (3.79 hours per CPU per elapsed hour)Bug 3574504: INCORRECT STATISTICS IN V$OSSTAT IN HP-UXBug 5933195: NUM_CPUS VALUE IN V$OSSTAT IS WRONGBug 5639749: CPU_COUNT NOT SHOWN PROPERLY FROM THE DATABASEBug 10427553: HOW DOES V$OSSTAT GET IT'S INFORMATION ON AIXBug 9228541: CPU TIME REPORTED INCORRECTLY IN V$SYSMETRIC_HISTORY (3.75 hours per CPU per elapsed hour)Doc ID 889396.1: Very large value for OS_CPU_WAIT_TIME FROM V$OSSTAT / AWR ReportBug 7447648: OS_CPU_WAIT_TIME VALUE FROM V$OSSTAT IS INCORRECT